Intuit Inc. · NASDAQ:INTU
Intuit — Investor Day (September 2026)
168 slides from Intuit's investor day presentation, Sep 17, 2026
Slide 1: Intuit Investor Day, September 17, 2026
intuit investor day September 17, 2026
Slide 2: Kendra Goodenough
Kendra Goodenough
Slide 3: Agenda
Agenda Welcome Break Kendra Goodenough | VP, Investor Relations Consumer Platform Growth Strategy Company Growth Strategy Mark Notarainni | EVP and GM, Consumer Group Sasan Goodarzi | Chairman and CEO CONSUMER PLATFORM IMMERSION Nick Soukas | SVP of Commercialization, Consumer Group Technology Fueli
Slide 4: Forward-looking statements; Non-GAAP financial measures
Forward-looking statements This presentation contains forward-looking statements. There are a number of factors that could cause our results to differ materially from our expectations. Please see the section entitled “Cautions about forward-looking statements” in the Appendix accompanying this prese
Slide 5: Sasan Goodarzi
Sasan Goodarzi
Slide 6: Our Big Bets are delivering growth
Our Big Bets are delivering growth 20% 20% FY26 Results 14% Revenue Growth Operating Income Growth EPS Growth 23% Non-GAAP 25% Non-GAAP Operating Income Growth EPS Growth 6
Slide 7: Big Bet growth engines are scaling into a meaningful share of total revenue
Big Bet growth engines are scaling into a meaningful share of total revenue TOTAL REVENUE ($B) – BIG BET GROWTH ENGINES AS SHARE OF TOTAL BIG BET GROWTH ENGINES - FY26 OUTCOMES Big Bet growth engines $21.4 ~30% Share of total revenue $18.8 Assisted Tax, Money, and Mid-Market have grown to meaningful
Slide 8: Our Big Bets are delivering growth
Our Big Bets are delivering growth FY26 OUTCOMES Deliver done-for-you experiences +38% 13M Assisted Tax Customers1 +37% $2.8B Assisted Tax Revenue1,2 Accelerate money benefits +26% $0.6B Consumer Money Revenue2,3 +31% $1.8B Business Money Revenue3 Fuel success for mid-market businesses +28% 449K Mid
Slide 9: Our Big Bets are delivering growth
Our Big Bets are delivering growth FY26 OUTCOMES >75% 15% Deliver done-for-you experiences +38% Assisted Tax Customers of new customers were TurboTax DIY upgraders Growth in new-to-the-franchise customers (YoY) ~75% >30% Fuel success for mid-market businesses +28% Mid-Market Customers of new custome
Slide 10: We did not grow new customers at the pace we expect
We did not grow new customers at the pace we expect FY26 OUTCOMES -1pt -3pts +4% TurboTax TurboTax Business Platform IRS e-file share DIY Tax e-file share Total online (YoY) (YoY) paid customers growth (-2pts YoY) 10
Slide 11: Positioning for durable growth
Positioning for durable growth Progress Made Progress Needed Grew Big Bets 30%+ Scale Big Bets Customer benefit drove ARPC growth Accelerate new customer growth Innovation fueled by our AI strategy Delivered margin expansion Monetize breakthrough adoption and EPS growth 11
Slide 12: Scale our Big Bets + Accelerate new customer growth
Scale our Accelerate new Big Bets + customer growth Intuit Confidential and Proprietary 12
Slide 13: What matters most to our customers
What matters most to our customers Consumer Problems Business Problems Accountant Problems Make ends meet Get, grow, and manage customers Grow and expand advisory services Maximize tax refund Get paid and pay bills Automate manual work Get capital Save more Deliver differentiated client work Pay and
Slide 14: Our opportunity is massive across a $300B+ TAM
Our opportunity is massive across a $300B+ TAM 7% Penetration $300B+ Total addressable market 14
Slide 15: Our opportunity is massive across a $300B+ TAM
Our opportunity is massive across a $300B+ TAM Business Consumer $186B $142B Small Business Mid-Market $97B $89B 15
Slide 16: Mission: Powering Prosperity Around the World
Mission Powering Prosperity Around the World
Slide 17: AI-Driven Expert Platform
AI-Driven Expert Platform More money No work Complete confidence 17
Slide 18: Financial System of Intelligence
Financial System of Intelligence 18
Slide 19: Scale of customers and richness of data
Scale of customers Richness of data 82M Consumers 10M Businesses 650K Accountants 70K Data points per consumer 625K Data points per business 307 Industries Income & earnings history, Vendor relationships, payment Construction, healthcare, spending patterns, credit/debt terms, payroll & workforce dat
Slide 20: Deep financial and industry expertise
Financial expertise Industry expertise 1 Platform 74 100+ 99% $3T+ Financial domains Workflows Industries we serve Invoices, bills, payroll Apps across FMS, Tax, Payments, payroll, Filing taxes, from quote to 307 industries, Personal Finance, etc bill pay, accounting, invoice, books close, etc. 1.5M
Slide 21: Domain-specific AI+HI
Agentic orchestration Human intelligence 60+ LLMs our agents 100+ Intuit AI skills agents can leverage 17K AI-powered 650K Accountants can leverage to deliver agentic workflows tax experts Balancing speed, Send Estimate, Payroll Tax Setup, accuracy and cost Bank Reconciliation, Tax Outcome Explanati
Slide 22: A unified platform delivering done-for-you experiences and intelligence
A unified platform delivering done-for-you experiences and intelligence Financial System of Intelligence Domain-specific AI+HI Deep financial and industry expertise Trusted proprietary data 22
Slide 23: A unified platform delivering done-for-you experiences and intelligence
A unified platform delivering done-for-you experiences and intelligence Domain-specific AI+HI Deep financial and industry expertise Trusted proprietary data 23
Slide 24: DIY Tax Prep
DIY Tax Prep Screen images are simulated. 24
Slide 25: AI-Powered Expert Tax Prep
AI-Powered Expert Tax Prep Screen images are simulated. 25
Slide 26: Quote to Cash
Quote to Cash Screen images are simulated. 26
Slide 27: Business Intelligence
Business Intelligence Screen images are simulated. 27
Slide 28: Agent Studio
Agent Studio Agent Studio is currently in private pilot with select IAS and IES customers. Additional fees may apply. Screen images are simulated. 28
Slide 29: A unified platform delivering done-for-you experiences and intelligence
A unified platform delivering done-for-you experiences and intelligence Domain-specific AI+HI Deep financial and industry expertise Trusted proprietary data 29
Slide 30: Scale our Big Bets + Accelerate new customer growth
Scale our Accelerate new Big Bets + customer growth Intuit Confidential and Proprietary 30
Slide 31: Big Bets to accelerate growth
Big Bets to accelerate growth 1 Deliver done-for-you experiences 2 Accelerate money benefits 3 Fuel success for mid-market businesses 31
Slide 32: Our new customer growth strategy
Our new customer growth strategy Broaden front doors to accelerate new-to-the-franchise growth Win priority cohorts with product innovation Grow lifetime value through platform adoption, consumption, and upgrades 32
Slide 33: Alex Balazs
Alex Balazs
Slide 34: Key takeaways
Key takeaways Trusted proprietary data, deep financial and industry expertise, and Differentiate with domain-specific AI+HI create a differentiated advantage that gets Intuit Intelligence stronger as AI improves. Compound our AI is transforming how we build and how we work, increasing velocity, pace
Slide 35: A unified platform delivering done-for-you experiences and intelligence
A unified platform delivering done-for-you experiences and intelligence Domain-specific AI+HI Deep financial and industry expertise Trusted proprietary data 35
Slide 36: Trusted proprietary data
TAKEAWAY #1 Trusted proprietary data Turning authoritative data into persistent financial context Authoritative financial data Proprietary and permissioned Books Business Persistent Transactions Object Model financial context Payroll Adds business context to the data For Intuit Intelligence Tax Invo
Slide 37: Deep financial and industry expertise
TAKEAWAY #1 Deep financial and industry expertise Encoding expertise into capabilities for Intuit Intelligence Tax AI foundations Tax data insights Tax filing Tax operations Tax preparation Tax reliability Construction Payroll Project management Time tracking Worker management Payroll tax Wholesale
Slide 38: Domain-specific AI+HI
TAKEAWAY #1 Domain-specific AI+HI Orchestrating the right intelligence for every workflow 60+ large language models Route to the best model for each task Machine learning Predict, classify, and surface insights Trusted Customer financial outcome workflow Deterministic code Calculate and execute with
Slide 39: Compound the pace of innovation
OUR TECH STRATEGY Compound Scale Big Bets and the pace + accelerate new of innovation customer growth 39
Slide 40: AI compresses every stage of how we build
TAKEAWAY #2 AI compresses every stage of how we build Decide what Decide what we build we build From PRDs written for humans → To specs written for agents From mockups → To working prototypes AI-powered Build it Product From writing code → To directing agents Development Multi-model by design Ship B
Slide 41: AI is accelerating the pace of innovation across Intuit
TAKEAWAY #3 AI is accelerating the pace of innovation across Intuit From answers Taxes done Personalized AI built for Financial work from new front doors to action in minutes financial insights complex businesses Extends Intuit Intelligence into frontier LLMs, Ask questions, analyze AI-driven filing
Slide 42: DIY Tax Prep: acquires data from permissioned sources
DIY Tax Prep Acquires data from permissioned sources Orchestrates work across the return Screen images are simulated. 42
Slide 43: DIY Tax Prep: deterministic tax and compliance engine
DIY Tax Prep Deterministic tax and compliance engine Persistent customer financial graph Screen images are simulated. 43
Slide 44: DIY Tax Prep: tax returns done for you in minutes
DIY Tax Prep Tax returns done for you in minutes Generative AI explains the outcome Screen images are simulated. 44
Slide 45: Business Intelligence: persistent financial and operating context
Business Intelligence Persistent financial and operating context Forward-looking financial intelligence Screen images are simulated. 45
Slide 46: Business Intelligence: AI grounded in authoritative records
Business Intelligence AI grounded in authoritative records Industry benchmarks Screen images are simulated. 46
Slide 47: Business Intelligence: reusable skills for recurring analysis
Business Intelligence Reusable skills for recurring analysis Reruns with the latest financial information Screen images are simulated. 47
Slide 48: Agent Studio: firm expertise captured in reusable workflows
Agent Studio Firm expertise captured in reusable workflows Create agents using natural language Agent Studio is currently in private pilot with select IAS and IES customers. Additional fees may apply. Screen images are simulated. 48
Slide 49: Agent Studio: access to Intuit financial capabilities
Agent Studio Access to Intuit financial capabilities and connected data Governed execution with review and controls Agent Studio is currently in private pilot with select IAS and IES customers. Additional fees may apply. Screen images are simulated. 49
Slide 50: Agent Studio: agents built once and deployed across clients
Agent Studio Agents built once and deployed across clients Monitor performance across agents and clients Agent Studio is currently in private pilot with select IAS and IES customers. Additional fees may apply. Screen images are simulated. 50
Slide 51: Quote to Cash: understands customer intent
Quote to Cash Understands customer intent in business context Persistent context across quote to cash Screen images are simulated. 51
Slide 52: Quote to Cash: orchestrates estimate and proposal generation
Quote to Cash Orchestrates estimate and proposal generation Applies financial and industry logic Screen images are simulated. 52
Slide 53: Quote to Cash: executes the financial action
Quote to Cash Executes the financial action Carries context forward into invoicing Screen images are simulated. 53
Slide 54: Intuit completes trusted financial work across AI experiences customers choose
TAKEAWAY #3 Intuit completes trusted financial work across the AI experiences customers choose Placeholder desktop 54
Slide 55: Key takeaways
Key takeaways Trusted proprietary data, deep financial and industry expertise, and Differentiate with domain-specific AI+HI create a differentiated advantage that gets Intuit Intelligence stronger as AI improves. Compound our AI is transforming how we build and how we work, increasing velocity, pace
Slide 56: Ashley Still
Ashley Still 56
Slide 57: Key takeaways
Key takeaways Grow consumption and engagement of Intuit Intelligence, delivering trusted Scale Intuit Intelligence financial automation and intelligence to businesses and accountants. Accelerate core Expand our QuickBooks line-up along with product innovation to acquire customer growth more small bu
Slide 58: Global Business Solutions segment
Global Business Solutions segment 18% GBS Revenue Growth to $11.6B ONLINE ECOSYSTEM AND CUSTOMER GROWTH 23% Online Ecosystem revenue growth to $8.6B1 4% Total Online Paid customer growth to 7.9M2 MONEY AND WORKFORCE ADOPTION 31% Online Money Portfolio revenue growth to $1.8B 17% Online Workforce rev
Slide 59: Positioning for durable growth
Positioning for durable growth Progress Made Progress Needed Grew Big Bets: Accelerate customer growth Mid-Market and Money 30%+ and increase market share Customer benefit fueled Scale Mid-Market through up-market ARPC growth industry editions and accountants Scale Money and Workforce adoption, Inno
Slide 60: Scale our Big Bets + Accelerate new customer growth
Scale our Accelerate new Big Bets + customer growth Intuit Confidential and Proprietary 60
Slide 61: The customers we serve are broad and diverse
The customers we serve are broad and diverse Industry Geography Construction, professional US, CA, UK, AU, ROW services, retail, etc. 1 Tax classification Employees LLC, S-Corp, etc. 0 (self) to 250+ More money Business type Business structure No work Service-based, Single and multi-entity product-b
Slide 62: Business Platform Strategic Priorities
Business Platform Strategic Priorities Scale Intuit Accelerate Core Embed Money Fuel Mid-Market Intelligence Customer Growth Experiences Success Grow consumption and Expand our QuickBooks line-up Make automated payments, Win new customers through engagement, delivering trusted and product innovation
Slide 63: Our goal is to solve what matters most to our customers
Our goal is to solve what matters most to our customers Consumer Problems Business Problems Accountant Problems Make ends meet Get, grow, and manage customers Grow and expand advisory services Maximize tax refund Get paid and pay bills Automate manual work Get capital Save more Deliver differentiate
Slide 64: Businesses want confidence and trusted, accurate intelligence
CUSTOMER PROBLEMS Businesses want confidence and trusted, accurate intelligence to run their business Running a business is manual and fragmented 7-25 the average business 36% to administrative work Disconnected apps to run of owners' time goes Getting an accurate picture is difficult #1 Operational
Slide 65: Accountants power business success, and their world is changing fast
CUSTOMER PROBLEMS Accountants power business success, and their world is changing fast Trusted advisors at the center of business success 650K Accountants 65%+ of QuickBooks online customers serving businesses work with an accountant Advisory is where firms grow revenue and relevance ~3x Revenue pot
Slide 66: We win as the end-to-end platform businesses and accountants rely on
We win as the end-to-end platform that businesses and accountants rely on every day to run and grow Businesses Accountants BUSINESS MARKETING ACCOUNTING MONEY IN CAPITAL MONEY OUT HCM FIRM MGMT SERVICE DELIVERY CLIENT INSIGHTS INTELLIGENCE OUR DURABLE ADVANTAGE Trusted financial intelligence Complet
Slide 67: David Hahn
David Hahn 67
Slide 68: Scale Intuit Intelligence
TAKEAWAY #1 Scale Intuit Intelligence 2.5M Customers using Intuit Intelligence automations and insights monthly1 INTUIT INTELLIGENCE IMPACT >75% Intuit Enterprise Suite customers engage with Intuit Intelligence every month2 ~30% Reduction in manual work (with 13 hours saved each month) ~400M Transac
Slide 69: A unified platform delivering done-for-you experiences and intelligence
A unified platform delivering done-for-you experiences and intelligence Domain-specific AI+HI Deep financial and industry expertise Trusted proprietary data 69
Slide 70: Intuit Intelligence is the thought partner for businesses
Intuit Intelligence is the thought partner for businesses Every business faces hard questions daily. Intuit Intelligence is their partner in answering them. One end-to-end view of the business Everything in one place, benchmarked against similar anonymized businesses using 40+ years of data. Plans a
Slide 71: Intuit Intelligence automates critical jobs by default
Intuit Intelligence automates critical jobs by default Intuit Intelligence delivers trusted Invoice Automation automation that businesses rely on Categorization The business runs done-for-you Agentic accounting, money in and money out, and team management are automated from day one. Intelligence sha
Slide 72: Intuit Intelligence powers the complex work of Mid-Market Businesses
Intuit Intelligence powers the complex work of Mid-Market Businesses As businesses grow, their needs become more complex. Intuit Intelligence scales with them. Full view of a complex business Multi-entity, multi-currency, and dimensional reporting consolidate into a single financial view with key in
Slide 73: Accelerate core customer growth
TAKEAWAY #2 Accelerate core customer growth 4% Total Online Paid Customer Growth to 7.9M1 KEY CUSTOMER GROWTH OUTCOMES 4% US QuickBooks Online Paid Core customer growth to 5.3M2 83% QuickBooks Online US Retention OUR FOCUS Expand the QuickBooks line-up to acquire businesses new to financial software
Slide 74: We grew ARPC by scaling our Big Bets, but new customer growth was not at pace
We grew ARPC by scaling our Big Bets, but new customer growth was not at the pace we expected BUSINESS PLATFORM TOTAL ONLINE CUSTOMER BASE1 BY BAND2 ARPC grew to $1.1K (18% YoY, 16% 3-year CAGR), 7.7M 7.9M 3YR 7.3M +4% growth CUSTOMER GROWTH CAGR as we focused where value was proven: +6% growth +5%
Slide 75: Our expanded line-up meets customers where they are
Our expanded line-up meets customers where they are to accelerate new-to-the-franchise growth Non-Employer Small Business Mid-Market 39M Businesses 8M Businesses 1.8M Businesses 90%+ 55% 45% NTTF 25% on 40% upgrade ~35% NTTF <10% non-consumptive Businesses on our platform opportunity Advanced / IES
Slide 76: Frictionless offerings win businesses that grow into paid customers
Frictionless offerings win businesses that grow into paid customers over time QuickBooks Free customers convert to paid through payments, intelligence, and upgrades, each built for how early stage businesses run Get Organized: Low-friction front doors Free to start, success in minutes. Get Paid: Mon
Slide 77: QuickBooks Free customers monetize through payments and upgrades
QuickBooks Free customers monetize through payments and upgrades CASE STUDY CASE STUDY Michael Papesh Taisha Rodriguez Social Media Consultant Photographer & Healthcare Consultant Journey Journey Joined QB Free the day he needed to send his first invoice. Started on QB Free to track expenses and inv
Slide 78: Embed Money experiences
TAKEAWAY #3 Embed Money experiences 24% Online Services Revenue Growth to $3.6B1 KEY MONEY AND WORKFORCE OUTCOMES 31% Online Money Portfolio revenue growth to $1.8B 17% Online Workforce revenue growth to $1.8B2 18% Growth in Online Ecosystem ARPC to $1.1K 3 OUR FOCUS Embed automated payments, bill p
Slide 79: Complete money in and money out, embedded across one platform
We win with complete money in and money out, embedded across one platform Business Platform Money In Capital Money Out Getting paid, automated end to end, Funding offered in the moment of need, Paying the team, bills, expenses all in one wherever customers already are. based on the business we alrea
Slide 80: Intuit Business Credit Card gives one view of every dollar leaving the business
Intuit Business Credit Card gives one view of every dollar leaving the business A quarter of business spend runs on credit card. Now it's built into the platform. Underwritten based on business performance Because the platform holds the business's invoices, bills, and payroll, approval is based on t
Slide 81: Human Capital Management expands money out
Human Capital Management expands money out from paying the team to managing the team Payroll at scale, AI automation, and Human Capital Management: complete solution that grows with every business Payroll operates at scale Businesses trust QuickBooks to run payroll for millions of workers, with payr
Slide 82: Bill Pay and Capital embedded in the flow of work drives adoption
Bill Pay and Capital embedded in the flow of work drives adoption Bill Pay and Capital are embedded where the work happens, so adoption becomes the default Bill Pay embedded as the default AP workflow for Mid-Market Built into QuickBooks Advanced and Intuit Enterprise Suite to make it easier for bus
Slide 83: Intuit Intelligence extends our reach into new payment workflows
Intuit Intelligence extends our reach into new payment workflows From estimate to invoice to payment, getting paid is built into key workflows Payments automated and embedded upstream Intuit Intelligence pre-drafts invoices, reminders, and follow-ups automatically creating a complete done-for-you ex
Slide 84: Embedded Money experiences drive adoption and compound ARPC
Embedded Money experiences drive adoption and compound ARPC over time ACCELERATORS WHAT WE BUILT FY26 PROOF POINTS Complete money in, money out, team, and capital on The offering one platform that grows with businesses from early 27% YoY is complete stage to Mid-Market. Revenue growth from customers
Slide 85: Ashley Still
Ashley Still 85
Slide 86: Fuel Mid-Market success
TAKEAWAY #4 Fuel Mid-Market success 39% Mid-Market1 Revenue Growth to $1.6B KEY MONEY AND WORKFORCE OUTCOMES $146M IES annualized revenue2 28% Growth in Mid-Market customers1 to 449K >30% Mid-Market new-to-the-franchise customer growth >2x Uplift in IES average revenue per contract for upgraders3 9
Slide 87: Mid-Market line-up to capture the $89B TAM through three growth levers
Our Mid-Market line-up will accelerate our capture of the $89B TAM through three growth levers Businesses Accountants ADVANCED All-in-one platform to run AI-native, industry-tailored Operating system for accounting and scale your business ERP for the Mid-Market CFO firms to advise and grow MID-MARKE
Slide 88: QuickBooks Advanced is the all-in-one for Emerging Mid-Market
QuickBooks Advanced is the all-in-one for Emerging Mid-Market, with money and intelligence built in The solution for growing businesses that automates their finances Full money in and money out built in Payments, payroll, bill pay, and capital run natively on the platform, so every dollar in and out
Slide 89: Intuit Enterprise Suite is the AI-native disruptor of legacy ERP
Intuit Enterprise Suite is the AI-native disruptor of legacy ERP, built for the office of the CFO Multi-entity depth, industry verticalization, and intelligence built in without legacy implementation Enterprise-ready foundations Multi-entity consolidation, dimensions, custom controls, and always-on
Slide 90: Industry offerings will expand our new customer opportunity
Industry offerings will expand our new customer opportunity with Mid-Market businesses and accountants Mid-Market Businesses Accountants Require industry-specific capabilities Operate and advise by industry Construction: Progress billing, job costing Specialize by vertical Non-Profit: grant manageme
Slide 91: Our construction solution offers early proof that industry depth wins
Our construction solution offers early proof that industry depth wins customers Purpose-built for how construction runs, from estimate to final payment Built the way the industry works Job costing, project budgets, retainage, and AIA (American Institute of Architects) style billing native to the pla
Slide 92: Scaled go-to-market compounds Mid-Market growth
Scaled go-to-market compounds Mid-Market growth Demand Engine Sales Customer Success Pipeline scaling with maturing B2B Expand productivity gains with Our early-success focus delivers fast demand engine and industry campaigns dedicated industry and money sellers time-to-benefit and value-expansion 2
Slide 93: Accountants are increasingly a key driver of Mid-Market growth
Accountants are increasingly a key driver of Mid-Market growth Accountant-driven Partnerships with Top 50 deals accelerating accounting firms 5X New IES deals driven by accountants over the last year1 25% of new IES deals driven by accountants 70%+ Mid-Market Businesses work with an external Account
Slide 94: Fueling accountant success strengthens network effect
Fueling accountant success strengthens network effect Accountants Businesses Benchmarks out of the box Advice grounded in domain expertise Ability to differentiate their service Service tailored to their industry Grow advisory More guidance, less manual work 650K Accountants 10M Businesses 94
Slide 95: Intuit Accountant Suite is the AI-native platform for accounting firms
Intuit Accountant Suite is the AI-native platform for accounting firms One platform for the firm's practice, team, and every client The firm's work, done for them Intuit Intelligence closes the books across the client base following the firm's own playbook, with a portfolio view of key client insigh
Slide 96: Intuit Intelligence automates month-end close across clients
Intuit Intelligence automates month-end close across clients, reducing manual work and driving platform preference CASE STUDY Agentic Books Close Firm remains in control Agent runs the close end to end following the firm’s own SOPs and policies Runs the firm’s playbook 00 Learns with every close Age
Slide 97: David Hahn
David Hahn 97
Slide 98: Key takeaways
Key takeaways Grow consumption and engagement of Intuit Intelligence, delivering trusted Scale Intuit Intelligence financial automation and intelligence to businesses and accountants. Accelerate core Expand our QuickBooks line-up along with product innovation to acquire customer growth more small bu
Slide 99: Global Business Solutions segment long-term growth expectations
Global Business Solutions segment long-term growth expectations LONG-TERM GROWTH EXPECTATIONS Global Business Solutions segment The foundations of our growth 10-15% Volume, mix, and price are all available levers for growth We are prudent in the contribution we assume from each Compound annual reven
Slide 100: Mailchimp is focused on profitable growth with high-value customers
Mailchimp is focused profitable growth with high-value customers Focused on the customers who get the most from the platform: deeper engagement, greater usage, and expanding share of wallet. +4.9 pts Operating margin expansion in FY26 9% Momentum is building Sales-Assisted Mid Market from YoY growth
Slide 101: Mark Notarainni
Mark Notarainni 101
Slide 102: Key takeaways
Key takeaways Scale the Make Credit Karma the platform front door, expanding the top of funnel into Tax, Money and Personal Finance, then deepening engagement and monetizing more Consumer Platform financial needs. Evolve the Tax Rebuild the DIY funnel to regain share of total IRS e-files and expand
Slide 103: Consumer Platform FY26 results
FY26 RESULTS Consumer Platform 11% Revenue Growth to $8.6B PLATFORM GROWTH 2% Platform Customer growth 11% Platform ARPC growth TAX 7% TurboTax revenue growth -1pt TurboTax IRS e-file share (YoY)1 37% TurboTax Live revenue growth2 38% TurboTax Live customer growth CREDIT KARMA 20% Revenue growth; 18
Slide 104: Positioning for durable growth
Positioning for durable growth Progress Made Progress Needed Customers filing taxes via Credit Karma Increase cross-platform adoption to have grown significantly, while Personal Finance grow multi-product customers and growth verticals are scaling platform monetization Shift TurboTax Live growth tow
Slide 105: Scale our Big Bets + Accelerate new customer growth
Scale our Accelerate new Big Bets + customer growth Intuit Confidential and Proprietary 105
Slide 106: Consumers face data overload and confusion managing personal finances
Consumers face data overload and confusion when managing personal finances TAX MONEY PERSONAL FINANCE 1 3 4 7 8 9 Taxes Money Trading and Credit Cards Personal, Auto, Insurance Management Investments and Home Loans Marketplace 2 5 6 10 11 More apps & experts Get Tax Peer-to-Peer Banking Budgeting an
Slide 107: FY26 reinforced diverging trends across tax
FY26 reinforced US CONSUMER TAX INDUSTRY RETURNS (M)1 Assisted e-files diverging trends across tax DIY e-files Other Assisted Tax saw strong adoption of expert-led 167 164 164 163 experiences, but growth skewed toward upgrades, 160 161 and DIY lost ground with price-sensitive filers. 0.8% ~1.8x YoY
Slide 108: What matters most to our customers
What matters most to our customers Consumer Problems Business Problems Accountant Problems Make ends meet Get, grow, and manage customers Grow and expand advisory services Maximize tax refund Get paid and pay bills Automate manual work Get capital Save more Deliver differentiated client work Pay and
Slide 109: Vision: daily financial assistant for smarter financial decisions
DESIGN WIP VISION Be the daily financial assistant that helps customers make smarter financial decisions and put more money in their pockets 109
Slide 110: Significant runway across a massive consumer TAM
Significant runway across a massive consumer TAM Opportunity to grow revenue share across consumer tax, scale money offerings, and expand value and adoption in personal finance. Business Consumer 13% Revenue share of $47B Tax TAM Up 1pt YoY, with opportunity to further penetrate the $37B Assisted Co
Slide 111: Consumers need personalized guidance across every financial moment
Consumers need personalized guidance PERIODICALLY across every financial moment New CC, loan, home, major financial decisions Our platform is built around how consumers manage their financial Lightbox offers, Debt agent lives, from everyday money movement to major financial decisions. ANNUAL File ta
Slide 112: Consumer Platform Strategic Priorities
Consumer Platform Strategic Priorities Scale the Evolve the Tax Expand Consumer Platform Growth Model Assisted Tax Make Credit Karma the platform front door, Rebuild the DIY funnel with a stronger price Shift growth toward new-to-the-franchise expanding the top of funnel into Tax, Money and benefit,
Slide 113: With Credit Karma, a year-round front door to the full ecosystem
With Credit Karma, we have a year-round front door to the full ecosystem Each front door solves a money-saving problem. Together they create one assistant, powered by Intuit Intelligence TAX MONEY PERSONAL FINANCE (Central entry point) Maximize Make Save Pay off Know Reduce my tax refund ends meet m
Slide 114: Scale the Consumer Platform
TAKEAWAY #1 Scale the Consumer Platform Make Credit Karma the platform front door, expanding the top of funnel into Tax, Money and Personal Finance, then deepening engagement and monetizing more financial needs. FY27 PRIORITIES Increase engagement across everyday financial needs, not just credit sco
Slide 115: Scale the Consumer Platform: FY26 proof points
TAKEAWAY #1 Scale the Consumer Platform Make Credit Karma the platform front door, expanding the top of CK FRONT DOOR funnel into Tax, Money and Personal Finance, then deepening engagement and monetizing more financial needs. FY26 PROOF POINTS >50% YoY TurboTax unit growth from Credit Karma, showing
Slide 116: A broader platform model expands how we grow and monetize
TAKEAWAY #1 A broader platform model expands how we grow and monetize Category FROM Legacy Model TO Consumer Platform Business model Seasonal, tax-led business. Year-round consumer financial platform. Continuous engagement across everyday financial needs Customer engagement Episodic, centered on tax
Slide 117: Three complementary monetization models power durable growth
TAKEAWAY #1 Three complementary monetization models power durable growth TAX CREDIT KARMA CK MONEY Direct-to-consumer Partner Paid Interchange Paid experiences anchored Connect customers to Monetize recurring spend in clear customer value relevant financial products and banking engagement High-trust
Slide 118: Grow platform customers and ARPC, while expanding share of IRS e-files
TAKEAWAY #1 Our focus is to grow platform customers and ARPC, while expanding our share of IRS e-files PLATFORM CUSTOMERS1 AVERAGE REVENUE PER PLATFORM CUSTOMER2 TURBOTAX SHARE OF IRS E-FILES +2% +11% TT e-files FY26 Customer growth FY26 ARPC growth 151M 154M 155M 35.4M 36.7M 37.4M $157 $178 $198 40
Slide 119: Platform ARPC results reflect mix shift to higher-value relationships
TAKEAWAY #1 Platform ARPC results reflect mix shift to higher-value relationships CONSUMER PLATFORM CUSTOMERS1 BY BAND 2 FY26 OVERALL ARPC: $198 Platform ARPC grew 11% YoY to $198 36.7M 37.4M 35.4M +4% +2% Low-end DIY pressure has shifted mix away from the lowest 35.5M 0% 3yr CAGR ARPC cohorts. >$20
Slide 120: Evolve the Tax Growth Model
TAKEAWAY #2 Evolve the Tax Growth Model Rebuild the DIY funnel with a stronger price benefit, breakthrough ease and increased lifetime value across the Consumer Platform. FY27 PRIORITIES Scale Credit Karma Tax at $0 federal / $15 state to win price-sensitive filers. Broaden the DIY line-up with Use
Slide 121: Evolve the Tax Growth Model: FY26 proof points
TAKEAWAY #2 Evolve the Tax Growth Model Rebuild the DIY funnel with a stronger price benefit, breakthrough ease and increased lifetime value across the Consumer Platform. FY26 PROOF POINTS ~80% Customer incrementality from Credit Karma 21% YoY unit growth driven by embedded Tax pilot in tax year 202
Slide 122: Our expanded line-up accelerates new-to-the-franchise growth
TAKEAWAY #2 Our expanded line-up accelerates new-to-the-franchise growth $5B DIY TAM $37B ASSISTED TAM Getting started Growing needs Seeking confidence Win them back with a free, More through AI-first Win switchers with expert transparent product solutions for complex filers help at disruptive value
Slide 123: Credit Karma Tax
TAKEAWAY #2 Credit Karma Tax Offer simpler, transparent pricing to win CREDIT KARMA TAX new-to-the-franchise customers in key segments. The product Simple, transparent pricing: $0 federal / $15 state, with no interruptive upsells or complexity upgrades. Built natively into Credit Karma; one-click st
Slide 124: Expand Assisted Tax
TAKEAWAY #3 Expand Assisted Tax Shift growth toward new-to-the-franchise customers, monetize differentiated value of expert accountability, and scale with AI & human intelligence. FY27 PRIORITIES Unlock scale with AI Automate more tax prep so experts can review and stand behind more returns, lowerin
Slide 125: Expand Assisted Tax: FY26 proof points
TAKEAWAY #3 Expand Assisted Tax Shift growth toward new-to-the-franchise customers, monetize differentiated value of expert accountability, and scale with AI & human intelligence. FY26 PROOF POINTS ~1.8x YoY increase in Assisted Tax 36% YoY increase in Full Service conversion share, reinforcing dema
Slide 126: Early traction reinforces our strategy, while prudent on guidance
Early traction reinforces our strategy, while we remain prudent on assumptions in guidance DIY Tax EVIDENCE OF TRACTION NEXT PHASE OF EXECUTION Consumer Money is deepening engagement, while personalized experiences across Personal Finance growth verticals Expand inventory across Personal Finance and
Slide 127: Key takeaways
Key takeaways Scale the Make Credit Karma the platform front door, expanding the top of funnel into Tax, Money and Personal Finance, then deepening engagement and monetizing more Consumer Platform financial needs. Evolve the Tax Rebuild the DIY funnel to regain share of total IRS e-files and expand
Slide 128: Consumer segment long-term growth expectations
Consumer segment long-term growth expectations LONG-TERM GROWTH EXPECTATIONS Growth will be driven by Increasing share of IRS e-files Consumer segment Scaling Assisted Tax as we grow new-to-the-franchise filers 4-8% Compound annual revenue Driving consumer platform ARPC growth as we increase engagem
Slide 129: Sandeep Aujla
Sandeep Aujla
Slide 130: Key takeaways
Key takeaways Our Big Bets are proven growth engines, scaling >30% in FY26 with ample runway Scaling Proven Big Bets within a 7% penetrated overall $300B+ TAM. Deliberate focus and investments to broaden Business Platform front doors, Investing to Accelerate rebuild the DIY Tax funnel to take share
Slide 131: FY26 results were fueled by our Big Bets
FY26 results were fueled by our Big Bets, and highlighted opportunities to improve our core FY26 OUTCOMES Last year’s objectives Growth Double-digit revenue growth, bolstered by 14% Intuit revenue growth to $21.4B AI-driven expert platform strategy. 18% Business Platform revenue growth to $11.6B1 11
Slide 132: Positioning for durable growth
Positioning for durable growth Progress Made Progress Needed Accelerate customer growth to build Scaled Big Bets 30%+ foundation for durable long-term revenue growth Extended our track record of margin Increasingly drive ARPC growth expansion, lower SBC expense as through platform adoption % of reve
Slide 133: Our financial principles underpin durable growth and shareholder value
Our financial principles underpin durable growth and shareholder value creation Operate to double-digit Grow customers and expand value per customer through differentiated benefits organic revenue growth and platform adoption. Grow operating income Expand operating income faster than revenue by impr
Slide 134: At 7% penetration, our $300B+ TAM provides ample runway
At 7% penetration, our $300B+ TAM provides ample runway to continue scaling Big Bets and accelerate customer growth INTUIT PLATFORM Business Platform ($B) Consumer Platform ($B) $186B TAM $97B Small Business TAM $89B Mid-Market TAM $142B TAM $95B Consumer Finance TAM $47B Tax TAM Small Business TAM
Slide 135: Big Bet growth engines are scaling into a meaningful share of revenue
Big Bet growth engines are scaling into a meaningful share of total revenue TOTAL REVENUE ($B) – BIG BET GROWTH ENGINES AS SHARE OF TOTAL BIG BET GROWTH ENGINES - FY26 OUTCOMES Big Bet growth engines $21.4 ~30% Share of total revenue $18.8 Assisted Tax, Money, and Mid-Market have grown to meaningful
Slide 136: Key growth drivers of our Big Bets
Key growth drivers of our Big Bets FY26 OUTCOMES Deliver done-for-you experiences +38% 13M Assisted Tax Customers1 +37% $2.8B Assisted Tax Revenue1,2 Accelerate money benefits +26% $0.6B Consumer Money2,3 Revenue +31% $1.8B Business Money3 Revenue Fuel success for mid-market businesses +28% 449K Mid
Slide 137: Our customer growth strategy
Our customer growth strategy WHERE WE MUST IMPROVE CUSTOMER GROWTH STRATEGY -1 pt -3 pts Broaden front doors to accelerate new-to-the-franchise growth TurboTax TurboTax IRS e-file share (YoY) DIY Tax e-file share (YoY) Win priority cohorts with product innovation +4% Business Platform Grow lifetime
Slide 138: Value per customer is compounding on both platforms
Value per customer is compounding on both platforms BUSINESS PLATFORM TOTAL ONLINE CUSTOMERS1 BY BAND2 CONSUMER PLATFORM CUSTOMERS3 BY BAND4 FY26 OVERALL ARPC: $1,109 FY26 OVERALL ARPC: $198 36.7M 37.4M 35.4M +2% 7.7M 7.9M 35.5M 0% +4% 7.3M +5% +4% +6% 6.8M >$200 +22% +19% >$1,000 $120-$200 +8% $200
Slide 139: ARPC evolution across the platform, FY23–26
ARPC evolution across the platform, FY23–26 ARPC FY23 FY24 FY25 FY26 Key drivers of future growth FY27-29 Business Platform Mid-Market Ecosystem1 $3,140 $3,299 $3,713 $4,038 Global Business High value mix across the base (e.g., QBO Advanced, IES), Online Ecosystem2 $705 $797 $940 $1,109 Solutions gr
Slide 140: Desktop remains a highly profitable franchise while growth shifts online
Desktop remains a highly DESKTOP CUSTOMER BASE1 profitable franchise Non-Enterprise Desktop customers Enterprise Desktop customers while growth shifts online 1.0M Customer growth shifted to Online 0.8M Desktop mix continued to decline from 15% of Business Platform customers2 in FY21 to 9% in FY26 as
Slide 141: Managing Mailchimp for stable top line and improved profitability
Managing Mailchimp for stable top line and improved profitability FY26 RESULTS FY27 PRIORITIES $1.3B -1% YoY Dedicated accountability Standalone segment reporting with clear P&L ownership Revenue held approximately flat and transparency. Monetize the base 47.5% +4.9 pts YoY Drive conversion, expansi
Slide 142: Scale our Big Bets + Accelerate new customer growth
Scale our Accelerate new Big Bets + customer growth Intuit Confidential and Proprietary 142
Slide 143: Connecting our growth strategy to financial outcomes
Connecting our growth strategy to financial outcomes Intuit Confidential and Proprietary 143
Slide 144: Our business model has delivered durable growth and expanding margins
Our business model has delivered durable growth and expanding margins REVENUE GROWTH ($B) OPERATING MARGIN EXPANSION (%) FY23-26 CAGR: 14% FY23–26: +5.6 pts GAAP, +5.7 pts Non-GAAP GAAP Non-GAAP $21.4 32.1% $18.8 29.8% $14.4 $16.3 +14% 27.6% +16% 26.4% 27.4% +13% 26.1% +13% 21.9% 22.3% FY23 FY24 FY2
Slide 145: Scale and productivity fuel continued growth and margin expansion
Scale and productivity fuel continued growth and margin expansion FY26 % LONG-TERM EXPECTATION OF REVENUE Return to double-digit growth driven by scaling our three Big Bets and Revenue 100 accelerating customer growth Up over time as model optimization and scale offset higher AI-related costs, Gross
Slide 146: Disciplined AI investment improving unit economics and productivity
Disciplined AI investment improving unit economics and productivity at scale HOW WE DRIVE VALUE SELECT FY26 OUTCOMES2 AI orchestration: intelligence per dollar Match models, tools and human expertise to each outcome—balancing accuracy, speed, risk and cost. ~4x $135M+ Realized return on AI FY26 cust
Slide 147: We have reduced SBC expense by over two points since FY23
We have reduced SBC expense by over two points since FY23, target of 8% by FY30 SHARE-BASED COMPENSATION EXPENSE AS % OF REVENUE 11.9% 11.9% 10.5% Today 9.6% Guide 8.7% FY23 FY24 FY25 FY26 FY27 Note: $2,020M of share-based compensation expense included in FY27 non-GAAP guidance, divided by the low e
Slide 148: Operating leverage has driven strong EPS growth
EARNINGS PER SHARE GROWTH ($/share) Operating leverage has Non-GAAP EPS GAAP EPS $18.63 driven strong EPS growth +24% $14.87 Non-GAAP EPS $16.46 FY23–26 CAGR Operating income dollars grew faster than revenue, in line with our financial principles. $11.82 Coupled with share repurchases more than $9.8
Slide 149: Our durable model generates strong and growing free cash flow
Our durable model FREE CASH FLOW ($B) generates strong and FY23-26 CAGR: 22% growing free cash flow $8.6B FY26 free cash flow. +22% compounded since FY23, outpacing revenue growth by ~8pts a year 40% FY26 free cash flow margin. +7 points since FY23, supported by margin expansion and disciplined cape
Slide 150: Our disciplined capital allocation framework
Our disciplined capital allocation framework funds growth and compounds per share value Fund organic Maintain Return capital growth first financial flexibility to shareholders Innovation and AI Investment-grade balance sheet Dividends Platform expansion Selective capability M&A Share repurchases Cus
Slide 151: Our disciplined capital allocation has funded growth and returned capital
Our disciplined capital CAPITAL RETURNED TO SHAREHOLDERS ($B) allocation has funded Dividends Share repurchases growth and returned $6.8 capital consistently $1.3 ~$17B returned to shareholders FY23–26, roughly $4.0 70% of free cash flow, rising to $6.8B (79%3 of FCF) in FY26. $2.9 $3.0 $1.2 $5.5 Co
Slide 152: Our FY26 repurchases more than offset dilution
Our FY26 repurchases ENDING COMMON SHARES OUTSTANDING (M) more than offset dilution, reducing share count +3 $5.5B FY26 share repurchases Representing 13M common shares -13 Net reduction in ending common shares -11M Repurchases of 13M shares exceeded net employee stock-plan issuance of 3M shares 280
Slide 153: FY27 priorities balance growth, investment, execution and shareholder returns
FY27 priorities balance growth, investment, execution discipline, and shareholder returns NEXT YEAR’S OBJECTIVES Scale our Big Bets and accelerate new customer growth. Expand operating margin, as organic investments to fund growth are more than offset by efficiency gains and savings from workforce c
Slide 154: FY27 guidance: 9%–10% revenue growth
FY27 guidance: 9%–10% revenue growth as we strengthen our durable growth model (In millions) GROWTH FY27 GUIDANCE Total Revenue $23,279 - $23,512 +9% - 10% Business Platform $13,068 - $13,158 +13% - 14% Consumer Platform $8,955 - $9,088 +4% - 6% TurboTax $5,377 - $5,453 +2% - 3% Credit Karma $2,919
Slide 155: FY27 guidance: continued margin expansion and EPS growth
FY27 guidance: Continued margin expansion and EPS growth (In millions, except EPS and dividend per share) PROFITABILITY FY27 GUIDANCE GAAP $7,408 - $7,490 +26% - 27% Operating Income Non-GAAP $8,063 - $8,145 +17% - 18% GAAP 32% +440 bps Operating Margin Non-GAAP 35% +260 bps GAAP $20.12 - $20.36 +22
Slide 156: Compounding growth across the P&L underwrites durable EPS growth
Compounding growth across the P&L underwrites durable EPS growth REVENUE ($B) OPERATING MARGIN (%, GAAP) OPERATING INCOME ($B, GAAP) EARNINGS PER SHARE ($, GAAP) +9–10% +5.6 +440 bps +26-27% +22-24% +14% CAGR 21.4 pts $23.3B- 32% $7.4B- $20.12- 27.4% 18.8 23.5B 26.1% +23% 5.9 $7.5B +25% 16.46 $20.36
Slide 157: Committed to durable platform growth and at least high-teens EPS growth
Committed to durable platform growth and at least high-teens EPS growth LONG-TERM GROWTH EXPECTATIONS Intuit Global Business Consumer Solutions segment segment AT LEAST 10-15% Compound annual revenue growth 4-8% Compound annual revenue growth High teens rate over the next three years rate over the n
Slide 158: We will measure progress through focused growth metrics
We will measure progress through focused Business and Consumer Platform growth metrics Business Platform Consumer Platform Q4 FY26 FY26 Big Bets · Quarterly YoY Big Bets · Annually YoY Baseline Baseline Mid-Market customers 449K +28% TurboTax Live customers 12.8M +38% Mid-Market Ecosystem revenue $0
Slide 159: Metric definitions
Metric definitions Business Platform Total Online paid customer growth Worldwide paying customers across the Online ecosystem, including standalone services and excluding Desktop and Mailchimp, at period end. US QuickBooks Online paying customers across core SKUs (Simple Start, Essentials, Plus, SP,
Slide 160: Key takeaways
Key takeaways Our Big Bets are proven growth engines, scaling >30% in FY26 with ample runway Scaling Proven Big Bets within a 7% penetrated overall $300B+ TAM. Deliberate focus and investments to broaden Business Platform front doors, Investing to Accelerate rebuild the DIY Tax funnel to take share
Slide 161: Appendix
Appendix 161
Slide 162: About non-GAAP financial measures
About non-GAAP financial measures The accompanying presentation contains non-GAAP financial measures. Table 1, Table 2, and Table 3 reconcile the non-GAAP financial measures in that press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accoun
Slide 163: About non-GAAP financial measures (cont.)
About non-GAAP financial measures (cont.) We believe these non-GAAP financial measures provide meaningful supplemental information regarding Intuit’s operating results primarily because they exclude amounts that we do not consider part of ongoing operating results when planning and forecasting and w
Slide 164: About non-GAAP financial measures (cont.)
About non-GAAP financial measures (cont.) Gains and losses on debt securities and other investments. We exclude from our non-GAAP financial measures credit losses on available-for-sale debt securities and gains and losses on other investments. Gains and losses on executive deferred compensation plan
Slide 165: Table 1: Reconciliation of historical non-GAAP financial measures
Table 1: Reconciliation of historical non-GAAP financial measures to most directly comparable gaap financial measures (Dollars in millions, except per share amounts) Fiscal 2026 Fiscal 2025 Fiscal 2024 Fiscal 2023 See "About Non-GAAP Financial Measures" immediately preceding this Table 1 GAAP operat
Slide 166: Table 2: Reconciliation of forward-looking guidance for non-GAAP measures
Table 2: Reconciliation of forward-looking guidance for non-GAAP financial measures to projected gaap revenue, operating income, and EPS (Dollars in millions, See “About Non-GAAP Financial Measures” immediately preceding Table 1 for information except per share amounts) Forward-Looking Guidance on t
Slide 167: Table 3: Calculation of free cash flow
Table 3: Calculation of free cash flow (Dollars in millions) Fiscal 2026 Fiscal 2025 Fiscal 2024 Fiscal 2023 To supplement our statements of cash flows prepared in accordance with Net cash provided by operating GAAP, we use free cash flow to analyze cash flow generated from activities $8,838 $6,207
Slide 168: Cautions about forward-looking statements
Cautions about forward-looking statements This presentation contains forward-looking statements, including expectations regarding: forecasts and timing of growth and future financial results of Intuit and its reporting segments; our prospects for the business in FY27 and beyond; our growth outside t